Screen_Shot_2014-11-27_at_8.04.00_PMGetting students prepared to face the real world is one of the main objectives of a teacher. But as they say, when it comes to molding a child the community also plays an important role. With that in mind the Saint Francis Xavier Credit Union Limited located in Corozal launched its Mad City Money Rush project which offers students a firsthand experience on how to manage, budget and administrate finances. A number of high schools across the Corozal District have joined hands with Credit Union in this new endeavor and yesterday representatives of the institution were at St. Viator High School in the village of Chunox in the Corozal District prepping students for the real world. Reporter Victor Castillo reports.


Victor Castillo - Reporting


Playing the role of doctors, pharmacists, lawyers, cooks, teachers and managers is not an easy task but it is a challenge that students of St. Viator High School in the village of Chunox in the Corozal District decided to take as they took part in second Mad City Money Rush hosted by Saint Francis Xavier Credit Union Ltd.


The main objective of the activity is to equip High School Students with the right tools to face the real world especially in the area of financial management.


General Manager at Saint Francis Xavier Credit Union, Rafael Dominguez, told us more about Mad City Money Rush and how the idea was conceived.


Rafael Dominguez – G.M. SFXCU Ltd.


“This was born in a partnership with the Credit Union and a program that came from the United States where we saw the need where high schools especially the business section they are being taught about financial budget but actually we see that the practical is not actually being incorporated so this Mad City Rush is actually a practical working session that should enable the student to learn in the actual real world of financial budgeting.”


Rafael Dominguez – G.M. SFXCU Ltd.


“At the end of the day, they will be given a work sheet then on that card it will tell you that you have a salary of $5000 as a lawyer a month and then it will tell you if you have a wife or a husband if you have children and some obligation let say of a debt or a medical and all of that you would have to tally by the end of the day and  along with the Mad City Rush and do your actual purchases for example buy clothing for your kid, paying medical and going to lease a vehicle and so forth and by the end of the day what the Credit Union if trying to find out is to see if this student will really think about going to the Credit Union and open their account and make their saving as well and start working with the Credit Union because that is something that we have found out that is lacking in the community at large, so at the end of the those students should be held responsible for this and we are expecting them that they can spend money wisely and borrow money wisely and pay promptly and as you save money.”


Sylvanie Enriquez, a third form student at St. Viator, took part in the project and she shared with us her experience.

 

Abisaid Tun – Student


“Este evento es algo magnifico que está trayendo muchas cosas que aprendamos y hacer cheques y mostrar cómo podemos gastar nuestro dinero en buena forma y positivamente y así ver cómo se lleva las cosas en el mundo para poder estar bien con  nuestra familia y cómo gastar nuestro propio dinero.”


Sylvanie Enriquez – Student.


“I am very happy with initiative that the Credit Union is have with us St. Viators, I am learning a lot and I think it is a very good opportunity as students from third and fourth to learn more about the business here in our country.”


Victor Castillo – Reporter


“When we are talking about business what is something new that you have seen here now being put in a test of what is the real world out there, what are some of the decision making you have to do, how is it for you?”


Sylvanie Enriquez – Student.


“Like for example I had an experience just here just now that I forget the keys inside my vehicle I wasn’t expecting this emergency so I had to cater and take $75  out of my budget to pay this so these are things that maybe as a teenage you are not catering for in your mind as your parents might encounter in their daily lives so I think that it is very important for us to be thinking way beyond in the world out there, how is real life out there and things that you don’t expect and things that you would have to include in your budget so these are things that are opening my mind here today.”


Victor Castillo – Reporter


“What is going on here is a lesson, do you think that this will help you in decision making whenever you step out of high school and stand I the real world?”


Sylvanie Enriquez – Student.


“Definitely, more so because I am happy and I am excited that I am learning  and I am sure that my parents will learn too.”

At the end of the activity students were to ask to make a presentation on budget management, how to write a check, spend money, start a savings plan and how to remain within ones budget by acting responsibly.


Some 50 students were able to gain experience on financial management through the Mad City Money Rush project.

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